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15

Visium Hedge Fund Managers Charged With Insider Trading

By Tony Seruga

A multibillion-dollar hedge fund focused on health care had an inside view of the drug approval process at the Food and Drug Administration through a former high-ranking official turned consultant.

The information flow turned out to be lucrative, leading to $32 million in trading windfalls, federal prosecutors said on Wednesday.

In an insider-trading case that harks back to the height of a federal crackdown on the hedge fund industry six years ago, federal authorities filed criminal and civil securities charges against three current and former traders at Visium Asset Management, including Sanjay Valvani, one of the firm’s top portfolio managers and the former brother-in-law of the firm’s founder…

Visium Hedge Fund Managers Charged With Insider Trading

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